Bitcoin "is back" and already costs $11,000! Chart analysis.

.... following the article: "Is Bitcoin coming back? Today it rose by $700…"

Hello to everyone passionate about cryptocurrencies, and especially Bitcoin!

At the moment we see a fairly pleasant situation for investors who bought Bitcoin too late (in December 2017 - January 2018) and for investors who bought it when many no longer believed in it (July 2018 - April 2019).

Let me explain: 

For those who bought Bitcoin at 12000-19000 USD

After the glorious rally of 2017, when Bitcoin [BTC, BTCUSD]  rose from $900 to $19,500 per coin, the whole internet was discussing this impressive phenomenon, so many people without knowledge in the field continued to buy it. But in every "bull market" there are impulses and corrections. As a result, everyone who invested during December 2017 - January 2018 watched Bitcoin fall throughout 2018 and recover in 2019. 

Now the BTCUSD quote chart is in the 11000 USD area. In the image below we can see that this is the last in the series of important resistance levels coming from 2018. This level may serve as a temporary obstacle, and Bitcoin may pause sideways or correct down to the 9200 USD price. However, an upward breakout of the 11500 USD obstacle would "open the road" toward the 17000 USD region and the historical high.

For those who bought Bitcoin at 6000-12000 USD

Those who entered Bitcoin a little later are happier now. :) 

Starting in March 2018, the price slowly fell from 11500 USD to 3200 USD, BUT starting from the day of the previous article until now, BTCUSD has risen at the speed of 2017, recovering a full year of decline in 3 months. So everyone who entered after March 2018 is above the purchase price, meaning they are in profit. For these investors, the 11500 USD level is also important to watch. 

For those who bought below 6000 USD

Those who invested when it was scariest are now the happiest. Until March 2019, the BTC chart was still in a bear-market pattern, but on April 2, the Bitcoin price gave the first clue that a new growth period for the world's main cryptocurrency could begin. And it seems that Bitcoin is back... So, in the last 3 months Bitcoin has appreciated by about 200%, and based on the chart analysis in the next image and the one above, shorter-term investors can take profit below the 11500 USD level and just under the resistance line of the rising trend. A decline toward the 8900 USD region would awaken interest in short investments back toward 11000 USD. A breakout of the 11500 USD zone would be interesting for a medium-term investment toward the 17000 USD region. Analyze Bitcoin on an XTB demo account

To learn all the details about cryptocurrency investments, with an account insured for 20,000 EUR and much lower fees than on crypto-exchange pages, do not hesitate to contact us.

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